Tex.
Fin. Code Section 122.061
Conflicts of Interest
(a)
While serving as a director, honorary director, advisory director, committee member, officer, or employee of a credit union, a person may not:(1)
participate, directly or indirectly, in the deliberation on or determination of a question affecting the person’s pecuniary interest or the pecuniary interest of a member of the person’s immediate family or of a partnership, association, or corporation, other than the credit union, in which the person is directly or indirectly interested; or(2)
become employed by, engage in, or own an interest in a business or professional activity that the person could reasonably expect to:(A)
require or induce the person to disclose confidential information acquired because of the person’s office or employment in the credit union; or(B)
impair the person’s independence or judgment in the performance of the person’s duties or responsibilities to the credit union.(b)
An interest only as a member of the credit union that is shared in common with all other members is not a pecuniary interest within the meaning of Subsection (a)(1).(c)
In this section, “member of a person’s immediate family” means a person’s spouse or another person living in the person’s household.
Source:
Section 122.061 — Conflicts of Interest, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.122.htm#122.061 (accessed Jun. 5, 2024).
